Sensex Today | Stock Market LIVE Updates: It is past noon at Dalal Street, and the indices remain drenched in red. The markets are under immense pressure, as the Nifty falls over 300 points, taking the index below the 23,200 mark. The Nifty Bank is down over 570 points, slumping to the 53,200 mark. TCS, Tech Mahindra and Infosys are the biggest laggards.
Sensex Today | Stock Market LIVE Updates: We are halfway through the day’s trade, and the picture looks grimmer than it did at the opening bell. The markets have fallen sharply into the red, with all key indices trading lower. The Nifty is down close to 300 points, falling to 23,200. The Sensex is down over 1000 points, falling to a low of 73,600.
This trade throws water on the bulls’ plans of scaling 23,500. The market texture is wary and chartists see a bullish trend emerging only on a sustained move past 24,000.
The Nifty IT has fallen spectacularly from the highs of the previous sessions, and will no longer be the saviour, as the index is down over 1,100 points, and will have to be watched as well, as its RSI on the charts is nearing “overbought” territory.
The same is the case with the Nifty Bank, with 1,000-point intraday moves becoming common. Stocks like NHPC, Canara Bank, Adani Ports, Restaurant Brands Asia, and others will be in focus.
Watch this space for all the LIVE stock market updates.